Wall Street closed down on Thursday. The Dow Jones industrial average was down 45.26 points, or 0.25% to 18,098.94, the S&P 500 lost 6.63 points, or 0.31% to 2,132.55 and the Nasdaq Composite dropped 25.69 points, or 0.49% to 5,213.33.
Strength in the US$ & rising bond yields are the other negatives being priced in by global markets. However with corrections being part of the course for markets, this would be a good opportunity to buy as underlying fundamentals indicate strength with emerging markets being best proxy to bullishness in energy & commodities with oil & metals hitting fresh 52 week highs.
On the economy front, India’s retail inflation eased sharply to 4.31% in September, the slowest in more than a year, from 5.05% from August, mainly on account of a sharp fall in food prices.
Finance Minister Arun Jaitley blamed the successive governments' inability to bring in reforms in the infrastructure and power sectors for the rising non-performing assets in the core segments.
Among other stocks in focus:
Infosys Ltd: The IT Company will announce its Q2 numbers today.
Reliance Industrial Infrastructure Ltd: The company reported 19% decline in net profit to Rs 3.38 crore for the quarter ended September 30, 2016. The company had posted a net profit of Rs 4.19 crore in the year-ago period.
Tata Consultancy Services: TCS reported a profit after tax of Rs 6,603 crore for the September quarter. This was 4.51% QoQ higher than June quarter PAT of Rs 6318 crore the firm reported in June quarter.
DCB Bank Ltd: DCB Bank will announce its Q2 numbers today.
Lupin Ltd: Boehringer Ingelheim has entered into an agreement with Mumbai-based Lupin to co-market empagliflozin, a novel drug for the treatment of Type-II diabetes in adults.
Hindustan Unilever Ltd: Hindustan Unilever to raise prices of some skincare products, affected sales in the September quarter, parent Unilever Plc reportedly said, as per media reports.
NHPC: NHPC has got shareholders' nod to raise up to Rs 4,500 crore through issuance of bonds on private placement basis in domestic market in the next one year.
ONGC Ltd: ONGC Ltd and Hong Kong-listed United Energy Group Ltd are among bidders for Bangladesh natural gas assets being sold by Chevron Corp, as per media reports.
Bajaj Corp: The company will announce its Q2 numbers today.
Karnataka Bank Ltd: The bank has fixed October 25 as record date for the purpose of determining the shareholders eligible to apply for rights equity shares.
GNFC: Toluene diisocyanate - TDI - prices have increased sharply over the past few days , a huge positive for Gujarat National Fertilizer Company (GNFC), a Gujarat state-owned fertilizer and chemical company and the only manufacturer of TDI in India.
ICICI Bank: ICICI Bank has hit the capital markets, raising Rs 4,000 crore in a bond issue amid hopes of better credit growth during the busy season from October to March, as per media reports.
Cox & Kings: Cox & Kings-owned Meininger Hotels has signed an agreement with Beni Stabili SIIQ to set up a 491-bed hotel in Milan, Italy.
Dr Reddy's Laboratories: Dr Reddy's Lab launched Aripiprazole tablets in 2mg, 5mg, 10mg, and 30mg, a therapeutic equivalent generic version of Ablify tablets in the US market following the approval from the US Food and Drug Administration.
Coal India: Coal India tied up with Andhra Pradesh Generation Company (APGenco) for substituting imported fuel, used for blending purposes, by high quality Ranigunj coal. The initiative is part of the CIL’s effort to market Ranigunj coal that has few takers.
Granules India: Granules received approval from the US health regulator for anti-inflammatory drug Ibuprofen tablets, in the US market.
Jubilant Life Sciences: Jubilant Life Sciences received the final approval from the US health regulator for Darifenacin Extended-Release Tablets, used for the treatment of urinary incontinence.
Inox Wind: Inox Wind bagged repeat orders from the Malpani Group for 40 MW wind power projects in Gujarat.
Results: Infosys, DCB Bank,Network 18 Media & Investments,TV18 Broadcast, Harmony Capital Service, Integrated Capital Services, Infomedia Press, Bajaj Corp, CRISIL, Chowgule Steamships, Amal, Aarey Drugs & Pharmaceuticals, K S Oils Ltd, Pasari Spinning Mills, Sybly Industries
Global Data: AUD Financial Stability Review, CNY Producer Price Index (YoY) (Sep), CNY Consumer Price Index (MoM) (Sep), EUR HICP (YoY) (Sep), EUR Consumer Price Index (MoM) (Sep), EUR HICP (MoM) (Sep), CHF Producer and Import Prices (MoM) (Sep), CHF Producer and Import Prices (YoY) (Sep), GBP BOE Credit Conditions Survey (Q3) REPORT, EUR Consumer Price Index (MoM) (Sep),EUR Consumer Price Index (EU Norm) (MoM) (Sep), EUR Consumer Price Index (EU Norm) (YoY) (Sep),EUR Consumer Price Index (YoY) (Sep), EUR Trade Balance n.s.a. (Aug),EUR Trade Balance s.a. (Aug), USD Retail Sales control group (Sep), USD Retail Sales ex Autos (MoM) (Sep),USD Retail Sales (MoM) (Sep), USD Producer Price Index (MoM) (Sep), USD Producer Price Index (YoY) (Sep), USD Producer Price Index ex Food & Energy (MoM) (Sep), USD Producer Price Index ex Food & Energy (YoY) (Sep),USD Federal Reserve Bank of Boston President Rosengren Speech SPEECH, USD Reuters/Michigan Consumer Sentiment Index (Oct)PRELIMINAR, USD Business Inventories (Aug), GBP BOE's Governor Carney speech SPEECH, USD Fed's Yellen Speech SPEECH, USD Baker Hughes US Oil Rig Count, USD CFTC Gold NC net positions, USD CFTC USD NC net positions, USD CFTC Oil NC net positions,GBP CFTC GBP NC net positions, JPY CFTC JPY NC net positions,EUR CFTC EUR NC net positions.
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